Various studies reveal that the interest and use of bitcoin (BTC) as an investment has increased significantly in recent years. In comparison to this, other assets, such as gold, have suffered a decrease in purchases over the same period.
This was recalled this week by bitcoin analyst Willy Woo, who shared some sources crediting him on his Twitter account. One of them is the study made by digital asset manager Grayscale Investments, which claims that more than half (55%) of people who currently own bitcoin started investing in the last year.
It precisely indicated that 59% of respondents are interested in bitcoin, marking a notable increase from 2020 (55%) and 2019 (36%). Michael Sonnenshein, the CEO of Grayscale Investments, stated that this result confirms that more investors see long-term value in adding BTC and other cryptocurrencies to their investment portfolios.
In comparison to this, Willy Woo points out that bythat time gold investment had begun to decline,as shown in a U.S. survey by Gold Ira Guide. This notes that the purchase of this asset went from 12% to 10.8% from October 2019 to September 2020, when the gold price touched the same value (USD 1,938) as the current one in March 2022.
Like gold, interest in other investment assets has also declined. At least, this can be seen in Gallup’s report where it was pointed out that the purchase of stock shares of publicly traded companies dropped from 63% in 2004 to 56% in 2021..
The year 2022 will be a new challenge for bitcoin. With a war in Eastern Europe and possible global economic crisis, commodities such as gold have risen in value and are back on investors’ minds. However, the cryptocurrency does not seem to be shaken by the events and has just reached USD 47,000 again.